This is a simple indicator that plots 5 lines of your choice to the screen.
Can be used to trigger scalping Bots (stoploss around 0.5% recommended, take profit 1% or higher, please backtest!)
Also can be used for manual scalping, 1 or 2 candles at a time.
1) Alerts are triggered when EMAs 1 (Signal line) and 2 (Baseline) cross - a Long signal is called if the cross is above 3 (Trendline), a short if the cross is below EMA3
2) Signals are represented visually as a triangle on the chart, below the candles is a long, above is a short
3) TradingView Alerts can be easily set as I have labelled the signals clearly as many other Indicators like this aren’t easy to work out if trying to create alerts to trigger a 3commas bot, for example!
Each is fully customisable and if you wish to take advantage of the alerts, only a few simple rules need to be followed:
EMA1 needs to be less than EMA2.
EMA2 needs to be the same or greater than EMA3
That’s it, happy trading!
Big shout out to B and the gang over at Crypto Trading Group!
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.